is planning to further trim its fund lineup. The investment management arm of Bank of America
said Tuesday it plans to merge 11 of its funds as part of an initiative that began in late 2004 aimed at simplifying its fund offerings.
At the close of 2005, Columbia had reduced the number of long-term retail funds in its roster from 119 to 87.
If approved by shareholders, the new round of mergers are expected to be completed in the third quarter.
The funds to be merged include:
Columbia Small Company Equity Fund ($218.2 million) into Columbia Small Cap Growth Fund II ($429.6 million)
Columbia Tax-Managed Growth Fund ($254.3 million) and Columbia Growth Stock Fund ($489.7 million) into Columbia Large Cap Growth Fund$1.48 billion)
Columbia Utilities Fund ($385.2 million) into Columbia Dividend Income Fund ($526.2 million)
Columbia Marsico Mid Cap Growth Fund ($540.1 million) into Columbia Mid Cap Growth Fund ($867.5 million)
Columbia Young Investor Fund ($760.6 million) into Columbia Strategic Investor Fund ($492.7 million)
Columbia Tax-Exempt Insured Fund ($135.3 million) and Columbia Municipal Income Fund ($593.1 million) into Columbia Tax-Exempt Fund ($1.96 billion)
Columbia Florida Intermediate Municipal Bond Fund ($281.2 million) and Columbia Texas Intermediate Municipal Bond Fund ($197.7 million) into Columbia Intermediate Municipal Bond Fund ($2.13 billion)
Columbia Intermediate Core Bond Fund ($883.7 million) into Columbia Core Bond Fund ($1.04 billion)
Tom Gariepy, a spokesperson for Columbia, said the organization is not ruling out the possibility of undertaking more mergers in the future, but said there are no specific plans at the moment.
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